Fannie Mae 2010 Annual Report Download - page 309

standard on disclosures regarding the credit quality of financing receivables and the allowance for credit losses
had a significant impact on the presentation and comparability of our loan and allowance related disclosures.
The following table displays our mortgage loans as of December 31, 2010 and 2009.
Of
Fannie
Mae
Of
Consolidated
Trusts Total
Of
Fannie
Mae
Of
Consolidated
Trusts Total
December 31, 2010 December 31, 2009
(1)
As of
(Dollars in millions)
Single-family . . . . . . . . . . . . . . . . . . . . . $328,824 $2,490,623 $2,819,447 $166,657 $129,472 $296,129
Multifamily . . . . . . . . . . . . . . . . . . . . . . 95,157 75,393 170,550 108,513 11,901 120,414
Total unpaid principal balance of
mortgage loans . . . . . . . . . . . . . . . . 423,981 2,566,016 2,989,997 275,170 141,373 416,543
Unamortized premiums (discounts) and
other cost basis adjustments, net . . . . . . (16,470) 11,786 (4,684) (11,196) 28 (11,168)
Lower of cost or fair value adjustments on
loans held for sale . . . . . . . . . . . . . . . (28) (9) (37) (729) (160) (889)
Allowance for loan losses for loans held
for investment . . . . . . . . . . . . . . . . . . (48,530) (13,026) (61,556) (8,078) (1,847) (9,925)
Total mortgage loans . . . . . . . . . . . . $358,953 $2,564,767 $2,923,720 $255,167 $139,394 $394,561
(1)
Certain prior period amounts have been reclassified to conform to the current period presentation.
For the year ended December 31, 2010, we did not redesignate loans between HFI and HFS other than at the
transition date. For the year ended December 31, 2009, we redesignated loans with a carrying value of $1.2 billion
from HFS to HFI. We redesignated $8.5 billion of HFI loans to HFS for the year ended December 31, 2009.
The following table displays an aging analysis of the total recorded investment in our HFI mortgage loans,
excluding loans for which we have elected the fair value option, by portfolio segment and class as of December 31,
2010. For purposes of this table, each loan in our portfolio is included in only one segment and class category.
30 - 59 Days
Delinquent
60 - 89 Days
Delinquent
Seriously
Delinquent
(2)
Total
Delinquent Current Total
Recorded
Investment in
Loans Over
90 Days
Delinquent
and Accruing
Interest
Recorded
Investment
in
Nonaccrual
Loans
As of December 31, 2010
(1)
(Dollars in millions)
Single-Family:
Primary
(3)
..... $47,048 $18,055 $ 93,302 $158,405 $2,299,080 $2,457,485 $139 $110,758
Government
(4)
. . . 125 58 371 554 51,930 52,484 354 —
Alt-A . . . ..... 8,547 4,097 37,557 50,201 156,951 207,152 21 41,566
Other
(5)
....... 3,785 1,831 15,290 20,906 84,473 105,379 80 17,022
Total Single-
Family .... 59,505 24,041 146,520 230,066 2,592,434 2,822,500 594 169,346
Multifamily
(6)
.... 382 NA 1,132 1,514 171,000 172,514 — 1,012
Total . ..... $59,887 $24,041 $147,652 $231,580 $2,763,434 $2,995,014 $594 $170,358
(1)
Recorded investment consists of unpaid principal balance, net of unamortized premiums and discounts, other cost basis
and fair value adjustments and accrued interest receivable on HFI loans, excluding loans for which we have elected the
fair value option.
(2)
Single-family seriously delinquent loans are loans that are 90 days or more past due or in the foreclosure process.
Multifamily seriously delinquent loans are loans that are 60 days or more past due.
F-51
FANNIE MAE
(In conservatorship)
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)